Sony Quarterly Loss $391M, Expects More Red Ink

The good news is that Sony posted "better than expected" first quarter results. The bad news is that those "better than expected" results turned out to be a $391 million loss.

Sony said Thursday its net loss for the fiscal first quarter was 37.1 billion yen ($391 million) compared with a 35 billion yen ($368 million) profit in the April-June period a year earlier. Quarterly sales dropped 19.2 percent to 1.56 trillion yen ($16.4 billion).

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